WEST PALM BEACH, Fla., March 02, 2020 (GLOBE NEWSWIRE) -- Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $92.2 million Senior Secured Credit Facility (the “Financing”) to Cassavant Holdings, LLC (“Cassavant”), a vertically-integrated manufacturer of precision-machined components and sub-assemblies serving the aerospace and defense industries. The Financing was used to fund the acquisition by Gallant Capital Partners (“Gallant”) and refinance certain existing debt.
About Cassavant:
Founded in 1972 and headquartered in Phoenix, AZ, Cassavant is a leading manufacturer of critical components for engines, APUs, fuel and fluid systems, gears, hydraulics, and valves for the majority of commercial, military and business jet platforms serving the aerospace and defense industry. Cassavant is a key supplier for major global OEMs and utilizes its vertically integrated manufacturing expertise and broad capabilities set to deliver high quality products and services to its customers. For more information, please visit the website.
About Gallant Capital Partners:
Gallant Capital Partners is a private equity firm that makes control investments in technology, industrial and business services companies. Gallant executes on an operationally focused investment strategy with a focus on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, family-owned companies and management teams to maximize value and long-term, sustainable growth for portfolio companies. Gallant Capital Partners was founded in 2018 and is headquartered in Los Angeles. For more information, please visit the website.
About Comvest Credit Partners:
Comvest focuses on providing flexible financing solutions to middle-market companies. Comvest provides senior secured, unitranche, second lien, and mezzanine capital to sponsored and non-sponsored companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations. Credit facilities typically range from $25 million to $200 million for companies with revenues greater than $20 million. Comvest has offices located in West Palm Beach, Chicago, Los Angeles and New York. For more information, please visit the website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity and debt to middle-market companies across the U.S. Since its founding in 2000, Comvest has invested over $4.9 billion. Today, Comvest Partner’s funds have over $3.7 billion of assets under management. Through an extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit the website.
For more information:
Greg Reynolds, Comvest Credit Partners – (312) 637-8444, G.Reynolds@comvest.com
Brad Nii, Comvest Credit Partners – (310) 979-0924, B.Nii@comvest.com